Kishore Biyani, Founder and CEO of Future group shared his insights and spoke about the plans and the road ahead for Future Consumer Enterprise Limited (FCEL) by 2021. According to Biyani the company plans to grow into a Rs 20,000 crore business by the year 2021. He said that the company has lived up to its promise of turning itself into a 1000 crore business and FCEL has reached the milestone and also is cruising past it.
“Every country is known by the food it eats”, said Kishore Biyani further adding that every community has its own food culture and a lot of food is being urbanised today. To build in India it is not about mindshare but about also about heart share, if you don’t build in the heart share of the Indians you can’t succeed in the business”.
Biyani feels that the younger generation is experimenting with food and given the fact that there are more than 60% of the population under the age of 29; the target audience is the one to be aimed for. He feels that FCEL as a company has discovered how to reach out to them.
The company plans to grow into a Rs 20,000 crore business by opening multiple stores which includes 360 Hypermarkets and 2000 food stores across the country, and according to Biyani, if the company is able to do that then the food business alone could be around 40,000 to 45,000 crore.
The company has more than 27 brands in 64 categories. Following are a few of the brands they plan on keeping focus on:
Desi Atta – Offers varieties of regional flours and mixes across the country.
FCEL growth expected – Rs 300 crore
Golden Harvest – A brand in the staples space that offers wheat flour, maida, besan, spices, rice etc.
FCEL growth expected – Rs 350 crore
Premium Harvest - A range of premium packaged staples.
FCEL growth expected – Rs 500 crore
Fresh and pure - A range of products such as Ghee, Edible oils, Packaged Honey, Packaged Tea, Lemon Juice Concentrate are developed and packaged under this brand
FCEL growth expected –Rs 330 crore
Ektaa - A range of authentic regional Indian foods including regional variants in rice, pulses, gurs, savories and blended spices.
FCEL growth expected – Rs 150 crore
Sunkist - Sunkist delivers citrus product. FCEL acquired exclusive licensee of California-based leading food and beverage licensor, Sunkist Grower Inc. to manufacture, market and sell fruit juice, sparkling beverages and a range of other food products under the world-famous Sunkist brand in India.
FCEL expected growth –Rs 300 crore
Tasty Treat - A range of “popular-on-the-go-snack” such as Chips & Wafers, Indian Savories etc.
FCEL expected growth – Rs 1500 crore
FCEL also plans to introduce new products and new partnerships in time to come and they plan to set up more manufacturing units and forge new partnerships. FCEL has also collaborated with Swiss company ‘Mebelle’ to build products around oats. FCEL is also tying up with experts in the rice category to build a rice business and products that involve rice.
Kishore Biyani summed up the event by saying that at Future Group there is a common belief that consumption leads to development and he has a simple statistic where according to him if every Indian spends Rs 2000 or more every year, the GDP would grow by 2%. Biyani also shared the idea that consumption will create jobs and bring more income, thus helping India bring its golden bird tag back to the country.